Ok still not sure I described this right. The two replies seem to conflict.
The lip I am referencing is the metal "hump" seen in the upper left picture next to the part number.
This piece of metal is one solid piece that folds over to capture a "washer" type piece of metal as seen on the lower right.
The connection between the two metal parts is not a solid tight seal. It would let oil or dust in. Thus, I think it should go fwd. allowing the oil to the back side of the rubber seal.
I think this is correct, but it is not as clear as the open rubber types.